{"id":14971,"date":"2021-02-19T15:11:14","date_gmt":"2021-02-19T15:11:14","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=14971"},"modified":"2026-04-23T21:39:50","modified_gmt":"2026-04-24T00:39:50","slug":"star-entertainment-still-profitable-despite-covid-19-impact","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/star-entertainment-still-profitable-despite-covid-19-impact","title":{"rendered":"Star Entertainment still profitable despite Covid-19 impact"},"content":{"rendered":"\n

The Australian casino operator reported a net profit of AUS$40.4m (US$31.6m) for the first half of the 2020\/2021 financial year.<\/p>\n\n\n\n\n\n\n\n

Australia.- Star Entertainment Group<\/strong> has reported a net profit of AUS$40.4m<\/strong> (US$31.6m) for the first half of its financial year. That’s a drop of 29.6 per cent year-on-year.<\/p>\n\n\n\n

Statutory revenue for the six months ending December 31 amounted to $741.4m, down from $1.05bn<\/strong> in the corresponding period in the previous year.<\/p>\n\n\n\n

The operator’s Star Sydney<\/strong> casino closed on March 23 last year and reopened on June 1 with a maximum capacity of 500 members only. There, gross normalised revenue was down 51 per cent year-on-year to $390m.<\/p>\n\n\n\n

Star Sydney has recently increased its capacity to 10,000 customers<\/a><\/em><\/strong>.<\/p>\n\n\n\n

At Star Gold Coast<\/strong>, gross revenue dropped 48 per cent year-on-year to $172m, while gross revenue at Treasury Brisbane<\/strong> fell just 3 per cent to $180m.<\/p>\n\n\n\n

Star managing director and chief executive Matt Baker said: “Comprehensive actions to mitigate the impact of Covid-19 were implemented<\/strong>, safeguarding staff and customers, securing debt covenant waivers and amendments, and preserving cash.”<\/p>\n\n\n\n

“The Star\u2019s business is fundamentally strong. The long-term value uplift from investments in our network of integrated resorts and continuing operational improvements t<\/strong>o drive visitation and earnings remains significant.\u201d<\/p>\n\n\n\n

See also: Star aims to appeal to international tourists<\/a><\/em>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The Australian casino operator reported a net profit of AUS$40.4m (US$31.6m) for the first half of the 2020\/2021 financial year.<\/p>\n","protected":false},"author":176,"featured_media":14974,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Star Entertainment Group reported a net profit of AUS$40.4m for H1 FY20\/21, a 29.6% year-on-year decline, with statutory revenue falling to $741.4m due to COVID-19 impacts. While Star Sydney and Gold Coast experienced significant gross revenue drops, Treasury Brisbane showed resilience. Management emphasized strategic actions to mitigate pandemic effects and highlighted the long-term value of integrated resort investments.","focusai_entities":"Star Entertainment Group, Matt Baker, Star Sydney, Star Gold Coast, Treasury Brisbane","focusai_location":"Australia, Sydney, Gold Coast, Brisbane","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), compliance_legal (0.75), operator_casino (0.98), investor_analyst (0.99), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"H2 FY21 Projections?","query":"Given the H1 FY21 performance and recent capacity adjustments, what are Star Entertainment Group's revised GGR and NGR projections for H2 FY21, and what specific operational levers are being prioritized to achieve these targets?"},{"label":"Capital Structure Resilience?","query":"How do the secured debt covenant waivers and amendments impact Star Entertainment Group's long-term capital structure resilience and its capacity for future strategic M&A or organic growth initiatives?"}],"footnotes":""},"categories":[16336,28],"tags":[1295],"class_list":["post-14971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-casino-news","tag-star-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=14971"}],"version-history":[{"count":7,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14971\/revisions"}],"predecessor-version":[{"id":15004,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14971\/revisions\/15004"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/14974"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=14971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=14971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=14971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}